PM's in a nose dive today

If silver gets down close to the old breakout level of $20 ... I am loading up my 401k again

I think gold might push down towards $1200 to $1300 maybe ???... a huge buying opportunity.

 

Log in or Sign up to hide this ad.

I think I know the guy...

 

well, I took what I deemed as small advantage to buy today. I was recently blessed with some unplanned money, and bought @ 27. I bought 3500 dollars worth. I will sit on it, and buy some more if it dips below 20. I think it is fair to say a common medium would be around 25/26. But who know? I do it because I like it, and I like the coins!!!!

 

Its going back up! Glad I bought when it was at the $26 mark

 

Somebody get the chimp out......

 

wish i could find a good local source to pick up silver.. all my local coin places don't really deal with bullion too much but have ase and they are asking 37 a piece!! but picked my first gold 1/4 eagle today for 400...

 

For those who watch the technicals as indicators of buy/sell gold:

http://news.goldseek.com/GoldSeek/1325176246.php

 

Good things to keep in mind, sure. Once I figure out what isn't gambling when it comes to investing, I'll be floored...or doing something illegal (insider trading, etc, since I'm not a Senator...). Even sitting on cash is a 'gamble' that it will retain useable value. It changes. Nobody sees the future. No position is sure profit - save for that illegal thing I mentioned.

Second point of mild rebuttal is that silver (delivered) is a tangible. Nobody is going to send you a chapter 13 notice on your pile of PM. It just doesn't happen.

On the other hand, I've bought stock that now has ZERO value and will never have more than that. I've come to realize that all stock is only of temporary value...sure to fall into nothingness given long enough. So pick your tulips and enjoy.

 

provident metals and westminster mint both have 10oz bars for about spot + $1. good shipping too.

 

:thumb::thumb::thumb:

 

Stopped by the local shop today to hopefully buy some "bulk" silver dollars today. These are circulated dollars, some with problems, some not. They were still charging $27 each, plus 7% sales tax, plus (since I didn't bring cash) 3% CC fees. I passed. I was hoping for more like $22-$24 each.

 

5 year chart to ponder....

http://www.kitco.com/charts/popup/ag1825nyb_.html

The dip we see today will continue into January and eventually we will
see about a 5 day long panic and it will bottom out. Thats a buy!
(notice how I say that as if Im an AUTHORITY?) LOL
Please verify the usefulness of this prediction with the Oracle of your choice.

I predict February will be when Jackie Gleason will bust a move.

Im trying to convert personal possessions (useless bling) to cash
to be ready for the opportunity even if I have to sell at a big discount.
Id rather have the metal.
If Im right I will have a pile of silver.:hail:
If Im wrong I will have a pile of silver.:hail:

 

Nah, these guys ain't never gonna part with that silver for those prices. They're probably "into" them for a lot more and will wait on a trend back upwards.

 

Check your Inbox

 

I would just point out that just because you bought a stock that went to zero, it does not follow that all stocks are sure to fall to zero. The existence of stock indices proves it. What it may indicate is that you can't pick stocks, in which case mutual funds with very long term track records may be part of the solution.

 

Not at their miserly buy prices.

 

Had the same experience today. The dealer I buy from wouldn't go below $25 for Morgan/Peace silver dollars. He has sold them to me in the past for as little as one dollar over spot in bulk. I bought a roll, but would have bought more if they were selling for $22-23.

The moral of the story is that bullion is "sticky" on the way down or during dips. Dealers are reluctant to give you close to spot if the price is dropping, because they probably paid well over what the current spot price is, And they're turning it around, still trying to make a profit, or at least minimize their loss.

 

I killed them today on silver....makes a difference if you walk in with cash....they sold to me right @ under spot, just have to buy enough? maybe just small town?

 

If you live in a state that charges sales tax on PM purchases it pretty much eliminates any possibility of using this avenue to acquire coins. A 7% loss, on what amounts to a currency transaction, is tough to make back up. I live in such a state and thus only purchase locally at coin shows where the nature of the event allows them to bypass this sort of extortion from the local government.

 

Did I miss my opportunity?

Silver is up almost $2 in the last 2 days. I was waiting until today to buy, not sure why I waited, but now that silver is creeping back up I want to wait again.

Is this rise just a "dead cat bounce" as someone has mentioned previously in this thread? Or was $26 and change the lowest we were going to see for silver?